Who is investing in Reddit at this point? I guess they can just dump their shares against etf buying.
this post was submitted on 29 Jun 2023
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Reddit is not public, so it’s just private investors at this point that funded series tranches. They, of course, are pushing to have Reddit get profitable and then IPO.
I guess we will see what happens, but Spez may have totally messed-up their plans with the inept API pricing and the response to the concerns about it.
It could have been totally averted if they just introduced a reasonable user fee and license that could be used in any third party app.
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Honestly, fuck 'em.
Reddit deserves to crash and burn in my opinion. Every social media platform eventually runs it's course and then is supplanted by something else. No idea if Lemmy is the platform that eventually rises from the ashes of Reddit, but everything from the way Reddit was run from a corporate level, down to the users was toxic as hell. It needs to go away.
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I'll never understand the people who are hell bent on trying to get reddit back. No matter what they won't have a say in anything that happens, own anything, or even have a voice. I'm glad people are finally moving to an open source alternative.
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With so many of the power-users and mods abandoning ship, we'd better start a death pool for old.reddit.com, since it's mostly power-users that stay with old Reddit. How long until it gets Spez'd so desktop users have to suffer enshittification with the mobile app users?